Berenberg Bank analysts believe it’s time to buy BioNTech SE (NASDAQ:BNTX) shares, providing key takeaways from their hosted meetings with the company’s management at their annual German conference, followed by a series of investor meetings.

While debates on the longevity of the COVID-19 vaccine sales and growth potential in the rest of the pipeline will persist for some time, the analysts came away with a positive outlook on the company. BioNTech has an aggregate of about €20 billion in cash on the balance sheet, and management is committed to using it to maximize investor return over time. For the long haul, the company aims to become a global immuno-oncology company, underpinned by its leadership in mRNA technology.

According to the analysts, the stock has re-rated based on the apparent ebbing of the COVID-19 pandemic, in addition to the corrections in the broader market. However, at the current valuation, the analysts see a renewed interest in the stock, particularly from a number of large, global long-only funds. The analysts think many investors have started to view the company’s valuation as attractive, given the substantial cash on hand and the potential of its many pipeline products.